Hello Friends! Thanks so much for stopping by and visiting my blog, Stock Picks Bob's Advice! As always, please remember that I am an amateur investor, so please remember to consult with your professional investment advisers prior to making any investment decisions based on information on this website.
As I wrote about yesterday, several of my stocks are near sale points. In fact, two of them (Baldor and National Oilwell Varco) just hit those sale points and they were sold from my trading account. 140 shares of Baldor (BEZ) were sold at $43.36, representing a loss of $(3.83) or (8.1)% from my purchase cost of $47.19. Also, 105 shares of National Oilwell Varco (NOV) were sold at $106.20. This represented a loss of $(11.88) or (10.1)% from my purchase cost of $118.08.
I am now down to 18 positions. I will wait for a sale at an appreciation point before adding any new positions.
This is not a reflection of my own assessment of the market which is one of concern to say the least. These sales are my portfolio's own attempt to respond to market action and start moving stocks into cash. Hopefully this correction is short-lived and I shall be moving back into stocks. But I shall do this based on the signals generated by my own positions.
It is an interesting method. A little slow perhaps in responding. But we shall see whether this lag will hurt performance over the long term.
Thanks again for visiting. If you have any comments or questions, please feel free to leave them on the blog or email me at bobsadviceforstocks@lycos.com.
Bob